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04-29-2008, 05:50 AM
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no1's journal
Trading a live mini account @ interbankfx (200:1). Initially posted a brief summary of my plan (pairs I'll be trading, monthly goals, etc) but after a month of live trading I am almost positive that this will be changing as I learn and get better at this. So really there are no strict rules going forward.
Right now I am using more of a method than a system, and once again, this will be evolving constantly as I learn more about how the market really moves. Of course any comments are welcome. So here it goes... Yesterday's results... 4-28-08 Bal $551.26 GMT 00:46 Long 2 lots eurjpy 163.46 GMT 01:14 Closed 2 lots eurjpy 163.64 [+34.38] GMT 07:05 Short 4 lots eurjpy 163.54 GMT 07:06 Closed 4 lots eurjpy 163.53 [+3.83] * Realized this was a stupid entry so I closed immediately. GMT 07:20 Short 4.5 lots eurjpy 163.37 GMT 07:22 Closed 4.5 lots eurjpy 163.32 [+21.53] * Momentum was still in favor of a short so I took a quick trade. Right now I have very little time to trade and I do not like leaving positions open when away from my computer so some of my trades will seem very short. Obviously the larger my position the tighter my stop will be. Bal $611.00 Last edited by no1 : 05-08-2008 at 01:28 AM. 
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04-29-2008, 07:07 AM
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4-29-08
Bal 611.00 ---------------------------- GMT 06:01 Short 2 lots eurjpy 162.88 GMT 06:23 Closed 1 lot eurjpy 162.94 [-5.75] GMT 06:24 Closed 1 lot eurjpy 162.98 [-9.59] GMT 07:19 Long 2.5 lots eurjpy 162.53 GMT 09:21 Short 1 lot eurjpy 162.21 GMT 09:38 Closed 1 lot eurjpy 162.38 [-16.29] * Should’ve closed the other position here too resulting in a total loss of -50 something dollars. GMT 11:38 Closed 2.5 lots eurjpy 161.90 [-151.38] * Too many lessons learned here to list. Very emotional trading on my part. Basic Fear/Greed at work. Not discouraged, I will make it back. --------------------------------------- Bal 427.99 Last edited by no1 : 04-29-2008 at 04:44 PM.
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04-29-2008, 08:02 AM
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I had similar method: 5 pips in very short time. If didn't look good (base on my perception not some indicator or rarely momentum i.), I was out with less pips or even small loss, but found this style very exhausting. You must be 100% concentrate all the time... My leverage was 100:1. Now I'm holding positions for few hours and found it more enjoyable. How long are you trading like this?
Last edited by heks : 04-29-2008 at 08:11 AM.
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04-29-2008, 04:51 PM
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Quote:
This will be a learning exp and I'm not discouraged. I know it's harder to make it back than it is to lose it, but I will make it back.
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05-07-2008, 08:34 PM
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Balance beginning 5/5/08: $401.64
Current trade: entered 5/5/08 GMT 19:21 Short .3 lots gbpjpy 206.62 * was looking for it to move down into the low 204's or even lower currently @ 204.66, up $56.40 (+196 pips). tempted to close but i feel the long-term down trend on the daily is still moving lower. we'll see.... GMT 22:26 Closed .3 lots gbpjpy 204.53 [+59.88] + 209 pips * held trade for 2 days, could've held longer but it's nearing a support line I have drawn near 204.12 and I want to see what's going to happen. Price made it all the way down to 204.21 then bounced back so I'm going to wait for now. Bal $461.52 Last edited by no1 : 05-08-2008 at 12:06 AM.
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05-09-2008, 01:58 AM
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Bal 461.52
GMT 00:33 Short .4 lots gbpjpy 202.82 * shorter time frames look as if they are trending up and price is about to bounce back upwards, but the daily's and the fundamentals still say it could go lower. I am betting that risk aversion is still the biggest motivator right now. GMT 04:27 S/L hit .4 lots gbpjpy 202.59 [+8.88] * Set a trailing stop @ 25 pips while I was away from the computer….should’ve left it alone I think. GMT 06:09 Short .3 lots gbpjpy 201.93 * price broke 202 so I’m looking for it to continue downwards… GMT 16:11 Closed .3 lots gbpjpy 200.85 [+31.44] * A series of good trades this week but I am not too happy about it. If I would've followed my initial judgement and held on to my 1st position based on the daily charts I would've rode a 600+ pip wave down from 206.62. Bal 501.84 Last edited by no1 : 05-09-2008 at 10:31 PM.
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05-10-2008, 12:58 AM
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Weekly Wrap-Up
Beg Bal 401.64 End Bal 501.84 Really focused on controlling my emotions this week. Still disappointed that that I didn't stick with my initial trade, it's very difficult psychologically to leave a trade open for more than a couple days. Looking forward to seeing what the crowd does on Monday.
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05-15-2008, 09:18 PM
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Previous Trades this week:
5-13-08 GMT 07:57 Short .3 lots gbpjpy 202.12 GMT 08:04 Closed .3 loots gbpjpy 202.22 [-2.89] * getting ready to go to sleep and there were several econ releases coming out, didn't want to risk an open position. good thing b/c releases were positive and i would've lost a lot more. 5-15-08 GMT 02:47 Short .3 lots gbpjpy 204.19 GMT 06:33 Closed .3 lots gbpjpy 203.77 [+12.04] * price was nearing s/r line I had drawn, and didn't want to leave the position open. Short gain but I didn't have a good feel for where the market was headed. ---------------------------------------------------------------------------------------- I'm not sure if I'll be taking any more trades this week. I'm up a pretty decent amount this month already (percentage wise 27.9%) based on beg bal. I might just leave things alone tomorrow and get ready for next week.
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05-15-2008, 11:12 PM
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Quote:
__________________
"Look, gentlemen, all the studies I'm aware of say you can't make profits consistently in foreign exchange." Alan Greenspan
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